Mayor Emanuel is shaking up the city-run board in charge of approving tax increment financing (TIF) for development projects and Redevelopment Area designations, appointing three new members, all of whom come from private industry.
The Council’s Committee on Economic and Capital Development is scheduled to consider three appointments and reappointments to the the Community Development Commission, an 11-member, mayor-appointed board that meets once a month in the City Council Chambers to recommend the creation of TIF districts or use of TIF funds for development plans.
The board is also in charge of approving the sale of surplus, city-owned land for neighborhood redevelopment activities or use eminent domain for land acquisition, as was the case of the Old Chicago Main Post Office seizure the board approved earlier this year.
The new appointments include:
Nicholas J. Delgado to replace Omar Duque. Duque resigned from the board before his term expired. A former employee of Merrill Lynch, Delgado left the investment firm in 2009, shortly after the financial crisis, and founded Digitas, an investment bank and family office for “founder and family run enterprises,” according to its website. Investment News named Delgado in its list of 40 under 40, and according to the Chicago Reader, Delgado was instrumental in getting a reluctant City Council to approve WalMart’s move to Chicago. The board member who Delgado will replace, Duque, is the President and CEO of the Illinois Hispanic Chamber of Commerce.
Dwight Curtis to replace Board Chair Marina Carrot, who is leaving her post this summer. Curtis, the Vice Chairman of label-making company Labelmaster, will finish out Carrot’s term. Carrot is an independent consultant, a member of the city’s Library Board, and was a one-time Commissioner of the city’s Department of Housing.
Mae C. Whiteside to succeed Lynda A. Olander, an executive with Precision Plating Company. The resolution appointing Whiteside gives no mention to the reason why Olander is stepping down from her post. Whiteside is a principal at CKL Engineers.
Jorge Perez, the Executive Director of the Hispanic American Construction Industry Association and the board’s current Vice Chair, will be re-appointed alongside Roxanne Ward, Chief of Staff for the Women’s Business Development Center. Perez will take over Carrot’s position as Chair.